Close Brothers Group plc has agreed to sell its execution services and securities business, Winterflood Securities to Marex Group plc for approximately £103.9 million in cash.

The Transaction is aligned with the group's strategic priorities to simplify the portfolio, enhance operational efficiency and drive sustainable growth. As previously outlined, Close Brothers is actively evaluating its portfolios to ensure that returns are maximised, and believes this is the right time to sell Winterflood and focus on the group's core lending activities. 

The Transaction is expected to complete in early 2026 and is conditional upon receipt of customary regulatory approvals.

Bradley Dyer, CEO of Winterflood, commented:

““We’re delighted to become part of Marex, which is a high-growth, global financial services company with a strong balance sheet. Our clients will continue to be served by the same team, while also benefitting from the backing of a large and growing company as well as access to a broader range of products and services from Marex. We’re excited to be joining a fast-paced organisation where our teams can thrive.”

Mike Morgan, Close Brothers Group Chief Executive, commented:

"Following a comprehensive strategic review, the Board is pleased to announce the sale of Winterflood to Marex. This transaction marks another important step in simplifying the group to focus on our core specialist lending business, following the sale of CBAM in February 2025. We see Marex as an excellent steward for the business going forward, we thank the Winterflood team for their hard work and commitment over the years, and wish them every success in their next chapter with Marex." 

Ian Lowitt, Marex Chief Executive Officer, commented:

"This acquisition gives us an opportunity to transform our existing equity market making business into a leading franchise, utilising the technology and connectivity of what is the leading brand in this market. We believe we can gain economies from operating at scale and also benefit from Winterflood's great technology and strong client relationships, which will enable us to introduce additional products and services from across our platform to a new set of clients."

To read the full RNS: https://www.londonstockexchange.com/news-article/CBG/sale-of-winterflood-to-marex/17151485